Best Egg Personal Loans Review (2026): What You Need To Know
Quick take: Best Egg is an online personal loan lender that offers fixed-rate loans with fast funding and a fully digital application process. While it provides competitive loan amounts and predictable payments, origination fees and limited repayment term options may increase overall borrowing costs for some.
Key Takeaways
Best Egg offers fast, fixed-rate personal loans up to $50,000 with funding as soon as the next business day. APRs generally range from 6.99% to 35.99% based on your credit, income and loan details.
You can check your rate with a soft credit pull that won't ding your score, but watch for origination fees and know that repayment terms are limited to 36 or 60 months.
Compare offers before you commit. Best Egg works best if you have fair to good credit and want predictable payments, but look elsewhere if you need a co-signer or longer terms.
Summary generated by AI, verified by MoneyLion editors
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Best Egg Personal Loans Pros and Cons
Here's a closer look at the pros and cons of personal loans from Best Egg.
Pros
Fast funding, some borrowers receive funds as soon as the next business day
Fixed interest rates with predictable monthly payments
Option to check your rate without impacting your credit score
Available to borrowers with fair to good credit
Cons
Origination fees may apply and can be somewhat high, depending on the loan offer
No co-signer or joint loan options
Repayment term options are more limited than those of some competitors
Company Overview
Founded in 2014, Best Egg is an online lender focused on providing personal loans for debt consolidation, major expenses, and other everyday financial needs. The company operates primarily through a digital application process, allowing borrowers to check rates, apply, and manage loans entirely online.
Best Egg works with partner banks to originate loans and generally targets borrowers with fair to good credit profiles who want a straightforward borrowing experience without visiting a branch.
Key Features
Interest Rates
Best Egg personal loan APRs generally range from approximately 6.99% to 35.99%, depending on factors like credit score, income, loan term and overall financial profile. Rates are fixed, meaning they won't change over the life of the loan.
Loan Amounts
Borrowers can generally request loans ranging from a few thousand dollars up to $50,000, making Best Egg suitable for both smaller expenses and larger consolidation needs.
Repayment Terms
Best Egg commonly offers 36-month and 60-month repayment terms, giving borrowers some flexibility between lower monthly payments and faster payoff timelines.
Funding Speed
Once approved and accepted, funds are often deposited as soon as the next business day, though timing can vary by bank and verification requirements.
Costs and Fees
Best Egg charges an origination fee between 0.99% to 9.99% for unsecured loans and 1.49% to 9.99% for home secured loans. This is typically deducted from the loan proceeds before funds are disbursed. The exact fee varies based on the loan offer and borrower profile. Late fees or other penalties may apply depending on loan terms, so borrowers should review their agreement carefully before accepting.
Other Notable Features
Soft credit check available during rate shopping
Fully online application and account management
Customer support via phone and online channels
Availability may vary by state, and not all applicants will qualify for the lowest advertised rates.
How To Apply
Check your rate using a soft credit inquiry.
Provide basic information such as income and employment details.
Choose a loan amount and purpose.
Review available offers and terms.
Accept the loan and receive funds, if approved.
Best Egg vs. Comparable Options
Borrowers considering Best Egg may want to compare it with other online personal loan lenders that offer different repayment terms, loan limits, or eligibility features.
Feature | Best Egg | Upgrade | LendingPoint |
|---|---|---|---|
APR range | 6.99% to 35.99% | 7.74% to 35.99% | 7.99% to 35.99% |
Loan amounts | Up to $50,000 | Up to $50,000 | Up to $36,500 |
Repayment terms | 36 or 60 months | 24 to 84 months | 24 to 72 months |
Origination fees | May apply | May apply | May apply |
When Upgrade might be better: Upgrade may be a better fit for borrowers who want a wider range of repayment term options or who may benefit from applying with a co-borrower.
When LendingPoint might be better: LendingPoint may appeal to borrowers who need shorter or moderately long repayment terms but do not require the higher loan amounts offered by Best Egg or Upgrade.
Who It's Best For
Best Egg may be a good fit for borrowers who:
Want fast access to funds
Prefer fixed monthly payments
Have fair to good credit and stable income
It may be less appealing for those seeking no-fee loans, co-signer options, or longer repayment terms.
Final Take
Best Egg personal loans can make sense for borrowers who value speed, simplicity, and predictable payments, especially when consolidating debt or covering a planned expense. However, origination fees and limited-term options mean it’s worth comparing offers before committing. As with any loan, the best choice depends on your credit profile, financial goals, and total borrowing cost.
FAQs
Does Best Egg allow co-signers?
No, Best Egg doesn't currently offer co-signer or joint loan options.
What credit score do I need?
There's no published minimum, but borrowers typically need fair to good credit to qualify for a personal loan.
How long does it take to get funded?
Many borrowers receive funds as soon as the next business day after approval and acceptance.
Key Terms
APR: The annual percentage rate is the total yearly cost of a loan expressed as a percentage, including both the interest rate and certain fees such as an origination charge.
Origination fee: An upfront charge a lender deducts from your loan proceeds to cover processing costs, typically expressed as a percentage of the loan amount.
Fixed-rate loan: A loan with an interest rate that stays the same for the life of the loan, resulting in consistent, predictable monthly payments.
Soft credit inquiry: A credit check that lets you preview loan offers without affecting your credit score. It's what Best Egg uses during the rate-check stage.
Hard credit inquiry: A formal credit check performed when you accept a loan offer. It appears on your credit report and may cause a small, temporary dip in your score.
Debt consolidation: The process of combining multiple debts into a single loan, often to simplify your repayment or potentially lower your overall interest rate.
Unsecured personal loan: A loan not backed by collateral, meaning your approval and rate depend primarily on your creditworthiness, income and other financial factors rather than an asset like a home.
Sources:
Summary generated by AI, verified by MoneyLion editors
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